Campbell Closes the Book on Its Fresh Expansion With Sale of Bolthouse Business; Shares Attractive
Following through on plans initially laid out in August, wide-moat Campbell Soup has inked a deal to sell the remaining piece of its fresh business, which had accounted for around 10% of sales, wrapping up what has arguably been a tumultuous foray into the natural and organic category, plagued by volatile sales and muted profits. In a deal that is expected to close by fiscal year-end in July, Campbell is to receive $510 million in proceeds for its Bolthouse Farms segment from Butterfly Equity, w...Campbell Soup is a manufacturer and marketer of food and beverage products. The company's reportable segments are: Meals and Beverages, which includes the retail and foodservice businesses in the United States and Canada, and the meals and shelf-stable beverages business in Latin America; Snacks, which consists of Pepperidge Farm cookies, crackers, fresh bakery and frozen products in United States retail, including Milano cookies and Goldfish crackers, and Snyder's of Hanover pretzels, Lance sandwich crackers, Cape Cod and Kettle Brand potato chips, Late July snacks, Snack Factory Pretzel Crisps, Pop Secret popcorn, Emerald nuts, and other snacking products in the United States and Canada.
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